Zee Ent Q2 net profit rises 9%; revenue up 20%

Zee Entertainment Enterprises (ZEEL) on Thursday reported a nearly 9% year-on-year (y-o-y) rise in consolidated net profit to `123 crore for the quarter ended September 30, 2023 (Q2FY24), as strong demand for its movies and a pickup in subscriptions eclipsed a decline in advertising revenue. This beat street estimates of `114 crore for the period.

The media firm’s consolidated revenue rose 20.5% y-o-y to `2,438 crore in Q2FY24, beating Bloomberg consensus estimates of `2,167 crore by a wide margin.